Buffett says China's housing market is like gambling in the next 10 years buy stocks

Wang Li May 1 from 21:30 to May 2 4:30, Warren Buffett held Berkshire Hathaway, the 2010 shareholder meeting in Omaha.　　Mr. Buffett has made a point of Goldman Sachs at the shareholder meeting and has expressed his views on the Chinese property market. Recommended long-term investment in 10-20 years to buy shares in a total of more than 40,000 people attended the general meeting of shareholders.　　Every year, on the weekend of the first week of May, Berkshire holds an annual shareholder meeting in Omaha, which attracts countless investors who have traveled all over the world to the town of Omaha, only to hear the greatest value investor Warren Buffett personally preach sermons.　　Berkshire Hathaway, which has focused on the world's highest-quality investor team, has been discussing topics between shareholders and managers at the world's largest annual shareholder meeting, which is a hot topic in the world economy and investment circle.　　At the current shareholder meeting, Mr. Buffett said he did not know what the next step would be, but that in the 10-20-year long-term trend he would recommend buying stocks (including American shares) rather than bonds or holding cash, which could bring real rewards. Expressing support for the Goldman Sachs Group's "fraud gate" against Goldman Sachs, Buffett, who invests 5 billion of billions of dollars, said that while US regulators believe Goldman Sachs was guilty of fraud, he still fully supports Goldman Sachs and supports Goldman Sachs chief executive Blankfein to remain in charge of Goldman Sachs.　　Mr. Buffett said 39,900 of the 40,000 people on the scene were misunderstood. Goldman Sachs shares have shrunk nearly 23 billion dollars since the Goldman crisis. But Mr. Buffett said at a shareholder meeting that he would not throw the Goldman stock. "I love this investment. When we sit here, our preferred stock brings US $15 per second. "In 2008, Buffett's company bought a preferred stock of Goldman Sachs for 5 billion dollars, and Buffett's company could get 500 million U.S. dollars a year dividend yield."　　Under the agreement Goldman Sachs could buy back the shares at a price of 10% per share, and Buffett could purchase $5 billion of Goldman's common stock at $115 a share. China was pleasantly surprised at the 5-hour shareholder meeting, where Mr. Buffett spoke many times about China. He pointed out that China is a "surprise" economy, and that there is no doubt that China has great potential for development, which has now begun to manifest.　　Buffett also said he would go to China with his partner Munger to see the relevant companies this September. Buffett also expressed his views on Chinese real estate. ' Chinese people like to gamble, ' Mr. Buffett said. In China, many of the investment varieties are often regarded as a gambling tool, to some extent distort its own investment role.　　Buffett added: "At present, China's real estate market is very unhealthy, the whole Chinese real estate market is gambling." On the investment of BYD in China, one of Buffett's top executives, David Sokol, also said the companyThe investment of Artie Company is "very long" investment.　　BYD is also clear that Berkshire Hathaway is a very supportive shareholder, and is preparing to export its electric vehicles to the US market. It is also one of the shareholders ' focus to invest in Berkshire Hathaway in the future.　　Mr. Buffett said he was preparing to "see" India next March and not rule out the possibility of investment. He said the above decision was made just April 30.　　Berkshire may invest in industry or invest in the Indian stock market. "We've been watching the insurance industry in India," Mr. Buffett said.　　Insurance and reinsurance are the main directions of Berkshire Hathaway. It is understood that Berkshire Hathaway's many investments in Asia have reaped substantial returns.　　According to the annual report, Buffett's investment in Posco, the South Korean steelmaker, contributed a 1.32 billion dollar book profit to the company this year, and a 1.75 billion dollar book profit for Chinese carmaker BYD's investment. Predicting the world's severe inflation Mr Buffett said at a shareholder meeting that the threat of inflation is on the rise. In the aftermath of the 2008 financial crisis, the world's central banks injected $ trillions of trillion into the economy and interest rates were cut to a record low, and Buffett said: "The probability of severe inflation has risen, not just in the United States, but in the world." "In the long run, all currencies are devalued because of the massive liquidity injections and deficit policies that Governments have implemented since the global financial crisis," Mr. Buffett said. "Events around the world over the past few years have made me less optimistic about the long-term value stability of all currencies," Buffett said. "If a country can sustain a deficit of up to 10% per cent of GDP over the long term," the world has long been doing so, "he said." He added: "It is hard to predict how the world can reverse the huge deficit financing." Buffett further stressed that at this point "let us break the drug" may be more difficult than the original stimulus plan.　　Reporter Wang Libafite shareholder meeting quotations: I would like to make 50 dollars per minute, but I will not invest in the short term. Goldman Sachs "lost its PR campaign" in response to the SEC fraud allegations.　　It was hit because it was too slow to respond to the SEC fraud statement.　　The probability of serious inflation has risen, not just in the United States, but in the world. I prefer to invest in insurance industry. China and India now have the problem of restricting foreign companies from owning more insurance shares.　　We can't have a brilliant CEO working for a company with a 20% stake.　　I do not reject shorting, nor are I afraid to say it aloud, as long as a short person is shorting to try to assert his judgment.　　　　In the 10-20-year trend, it is possible to buy stocks (including American stock) rather than bonds or hold cash, which can bring real rewards. 0 related news Berkshire quarter profitMr. Buffett, 3.6 billion dollars, said at a shareholder meeting that the U.S. economy has improved significantly since March and that Berkshire's companies have "accelerated growth". According to Mr. Buffett, Berkshire is expected to profit 3.633 billion dollars a quarter, operating at $2.222 billion trillion. In the first quarter, the company gained 1.411 billion of dollars through investment and derivatives trading.